In a year, real GDP is ₹900 crore and population is 15 lakh. What is real GDP per capita?
Answer and explanation
Correct answer: ₹6000
Per-capita real GDP is calculated by dividing real GDP by population. Since ₹1 crore equals ₹100 lakh, ₹900 crore equals ₹90,000 lakh. Therefore, ₹90,000 lakh ÷ 15 lakh people = ₹6,000 per person. Option A is correct. The other choices result from mishandling the crore-to-lakh conversion or dividing incorrectly.
Frequently asked questions
What is the correct answer to this question?
₹6000
Why is this the correct answer?
Per-capita real GDP is calculated by dividing real GDP by population. Since ₹1 crore equals ₹100 lakh, ₹900 crore equals ₹90,000 lakh. Therefore, ₹90,000 lakh ÷ 15 lakh people = ₹6,000 per person. Option A is correct. The other choices result from mishandling the crore-to-lakh conversion or dividing incorrectly.
Which subject and chapter does this question cover?
This is a Class 11 Economics question. Chapter: National Income and Related Aggregates. Topic: GDP and Welfare.
